Crypto Headlines Of The Week: Shiba Inu, Worldcoin, & Terra Fuels Optimism

7Ary...USep

25 Feb 2024

Another week ends with notable events witnessed across the cryptocurrency realm. Among these events, Shiba Inu, Worldcoin, and Terra’s chronicles appear to have piqued the interest of crypto market enthusiasts globally.
Some of the top headlines that echoed a buzz within the broader crypto market this week are:

Shiba Inu Propels Optimism

Shiba Inu, an eminent meme coin, showcased a storm of breakthroughs this week, with significant developments within its ecosystem. The DN404 test token, SHEboshi, marked its debut this week, running into a dry stock spell soon after its launch.
Intriguingly, the Shiba crypto community re-adjusted Sheboshis’ supply right before its launch, increasing it from 12,000 to 20,000. However, with the DN404 test token’s immense popularity, it soon ran out of stock.
Meanwhile, with the community’s continued burning of colossal amounts of SHIB, the meme coin painted a bullish climate for itself this week.

Worldcoin Rockets

Sam Altman’s AI-meets-crypto project, Worldcoin, marked a tempest of strides this week as its price rallied nearly 200%. Numerous factors appear to have supported WLD’s price rally, including burgeoning whale accumulations and rising project adoption.
On the other hand, Alameda’s WLD holdings birthed additional inferences for potential price action shifts. As the WLD price rallied phenomenally this week, speculations over Alameda’s WLD selling birthed.
Also Read: JPMorgan Predicts Bitcoin Halving Already Priced In, Is A Major Correction Ahead?

Terra’s Advancements

The Terra Classic community proposed a crucial measure to raise the minimum initial deposit for new proposals in the deposit stage this week. This comes as a measure to prevent the burgeoning spam proposals in the deposit voting section.
Simultaneously, the measure mentioned above, Proposal 12071, “Set the Minimum Initial Deposit to 1 million LUNC,” was officially passed this week, with 89% votes in favor.
In the interim, Terraform Labs co-founder Do Kwon’s tussle with the U.S. SEC took a new turn as the court set pretrial deadlines and other procedures amid Do Kwon’s extradition news.
The Terra Classic community also witnessed the potential rejection of the Tax2Gas proposal, with 48% rejecting the proposal and 23% favoring it. This further piqued the interest of crypto market enthusiasts globally.
Also Read: Ripple’s Ex-Director Denies XRP ETF Speculation, Corrects Crucial Facts

Top Crypto Presale Projects For 2024 To Invest; Updated List
Best Crypto AI Trading Bots For 2024
Top Meme Coins to Buy Now in 2024 [UPDATED]

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rathRead more…

RECOMMENDED
TRENDING

Crypto Presale Projects For 2024 To Invest; Updated List
Best Crypto Trading Bots List 2024; Updated List
Best Crypto AI Trading Bots List 2024
Best Crypto Exchanges and Apps September 2024
Top Meme Coins to Buy Now: What You Need to Know
Top 10 Web3 Games To Explore In 2024; Here List

Home
/
24/7 Cryptocurrency News
/
Crypto Market: PCE & Other Events To Watch Amid Fed Rate-Cut Speculations

Crypto Market: PCE & Other Events To Watch Amid Fed Rate-Cut Speculations

Investors brace for a pivotal week as economic data, Fed speeches, and rate-cut speculations shape the crypto market's trajectory.
By Rupam Roy3 hours ago

STORY HIGHLIGHTS

Investors anticipate a crucial week with a focus on economic data and Fed speeches.
Goldman Sachs revises rate-cut predictions and expects four cuts this year.
The crypto market remained resilient due to optimism over Bitcoin ETF inflows and others.

As the crypto market braces for a pivotal week ahead, investors find themselves at the crossroads of economic uncertainty and market volatility. With a flurry of key events on the horizon, including crucial Fed speeches and economic data releases, stakeholders are closely monitoring developments that could shape the trajectory of both traditional and digital financial landscapes.

Economic Data, Fed Speeches, & Rate-Cut Dilemma

This week emerges as a critical juncture for investors, with a spotlight on various economic indicators and Federal Reserve communications. Notably, attention is focused on key data points such as the Personal Consumption Expenditures (PCE) index and GDP revisions, offering insights into the economic health of the United States and inflationary pressures.
On the other hand, upcoming speeches from various Federal Reserve officials like Atlanta Fed President Raphael Bostic and Fed Governor Chris Waller are also scheduled this week. The crypto market participants eagerly await these insights for indications regarding the Fed’s current position on their plans for rate cuts.
Meanwhile, the recent uptick in inflation, highlighted by January’s Producer Price Index (PPI) and Consumer Price Index (CPI) data, has sparked concerns and market reactions. The PPI saw a notable rebound, exceeding expectations, while the CPI revealed a higher-than-anticipated inflation rate.
Notably, these figures have implications not only for traditional financial sectors but also for the crypto market, as demonstrated by Bitcoin’s price movement post-CPI release.
Now, amid rising inflationary pressures, market sentiment hangs in the balance, with speculation rife regarding the Federal Reserve’s stance on interest rates. Despite earlier expectations of rate cuts, recent data suggests a shift in the Fed’s approach, prompting revisions in analysts’ predictions.
Also Read: Tech Titans Join OpenAI in $675M Funding for Figure AI’s Humanoid Robotics

Goldman Sachs Revises Forecast

Goldman Sachs, for instance, now anticipates a more gradual rate-cut trajectory, reflecting the central bank’s cautious outlook. For context, Goldman Sachs Chief Economist Jan Hatzius has revised predictions, expecting four rate cuts this year instead of five, citing Federal Reserve signals and strong US economic data.
It’s worth noting that the decision to delay cuts until June stems from the need for further inflation and economic data collection, contrary to earlier expectations of a March cut. Notably, there remains a 25% risk of further delays, cautioned Goldman, as Fed officials aim to see inflation align with their 2% target.
With a 96% probability of unchanged interest rates according to the CME FedWatch Tool, market participants await the Fed’s decision with bated breath. This has weighed on the broader financial market sentiment, let alone the crypto market.

Crypto Market Resilience Amid Hovering Uncertainties

Despite the looming economic uncertainties, the crypto market has exhibited resilience, buoyed by factors such as increased Bitcoin ETF inflows and anticipation surrounding events like the Bitcoin Halving and Ethereum ETF launch. The fear and greed index, reflecting investors’ risk appetite, remains relatively high, underscoring continued optimism within the crypto community.
Both the Bitcoin and Ethereum prices have shown resilience lately, amid the growing anticipation of the crypto market enthusiasts. On the other hand, the significant inflow into the Bitcoin ETF also reflects the growing demand for crypto from the big Wall Street players.
However, as economic data takes center stage this week, its impact on trader sentiment cannot be understated. A bleak outlook could cast a shadow over market sentiment, potentially influencing investment decisions across both traditional and digital asset markets. As stakeholders navigate through this period of uncertainty, the importance of staying informed and agile in response to evolving market dynamics cannot be overstated.
Also Read: Crypto VC Makes 50% Returns As DeFi Tokens Surge

Top Crypto Presale Projects For 2024 To Invest; Updated List
Best Crypto AI Trading Bots For 2024
Top Meme Coins to Buy Now in 2024 [UPDATED]

Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He fiRead more…

RECOMMENDED
TRENDING

Crypto Presale Projects For 2024 To Invest; Updated List
Best Crypto Trading Bots List 2024; Updated List
Best Crypto AI Trading Bots List 2024
Best Crypto Exchanges and Apps September 2024
Top Meme Coins to Buy Now: What You Need to Know
Top 10 Web3 Games To Explore In 2024; Here List

Home
/
24/7 Cryptocurrency News
/
Cathie Wood’s Ark Invest On Coinbase, Nvidia, Robinhood Selling Spree

Cathie Wood’s Ark Invest On Coinbase, Nvidia, Robinhood Selling Spree

Cathie Wood's Ark Invest book profits in Coinbase (COIN), Nvidia (NVDA), Robinhood (HOOD) shares as price hit new hit after earnings.
By Varinder Singh6 hours ago

Cathie Wood’s investment management firm Ark Invest is on a selling spree for Coinbase (COIN), Nvidia (NVDA), and Robinhood (HOOD) shares, despite better-than-expected earnings. Prices of all three stocks have surged over 30% in a month.

Cathie Wood’s Ark Invest Continues Selling Coinbase Shares

Cathie Wood’s Ark Invest sold a total of 72,242 Coinbase shares worth over $12 million, as per trades seen by CoinGape. The Coinbase shares selloff this week are as follows:
On Feb 22, ARK Innovation ETF (ARKK) sold 2,828 Coinbase shares. After its better-than-expected earnings report, Ark Invest funds offloaded $31 million worth of COIN shares as the price hit a 2-year high of $190.
On Feb 21, ARK Innovation ETF (ARKK) sold 31,747 Coinbase shares and Ark Fintech Innovation ETF (ARKF) offloaded 8,936 COIN shares.
On Feb 20, ARK Innovation ETF (ARKK) sold 19,732 Coinbase shares, Ark Fintech Innovation ETF (ARKF) sold 4,970 COIN stocks, and ARK Next Generation Internet ETF (ARKW) offloaded 4,029 Coinbase shares.